Sonoma County Market Update | Q4 2021
Sonoma County Market Update: It’s our pleasure to bring you the Corcoran 2021 Q4 Real Estate Market Report. Flip through this album depicting real estate sales stats town by town and county wide! Even though we’re well on our way to a busy market in 2022, it’s important to pause and reflect on how the last quarter provides context for the housing market trends we see today in Sonoma County.
Here is a quick recap.
Sales activity remained steadfast in Q4. Sales did slow down a bit over the holidays, which is a typical seasonal pattern. The median home price reached $769,000, which was a 9.9% year-over-year increase. Overall, we ended 2021 with solid growth (exceeding predictions) for Sonoma County real estate and the promise of another fruitful year ahead. Some of the hottest local markets right now include: Sebastopol (29.9% median price increase!), Sonoma & Healdsburg! Throughout the county home prices saw significant price appreciation although unit sales were down when compared to 2020.
Sonoma County Market Update | Q4 Market Highlights:
Home prices continued to trend upward in most Sonoma County communities as inventory constraints remain. For example, year-over-year prices in Sonoma exponentially increased in the fourth quarter to a median sales price of $1.2 million (+42.4% increase year over year). Sebastopol and Sonoma were tied for the highest median sales price in the county at $1.2 million.
What To Expect This Year…
While we don’t have a crystal ball, we do rely on the wisdom and analysis presented by industry experts to provide data-driven predictions for our real estate market. Head to our recent blog to learn more about what to expect this year. Spoiler alert: expect to see a rise in interest rates, modest home appreciation and an active luxury market!
Thankful for You & Your Referrals!
Trust is a big deal, especially when it comes to the professional you choose to handle the largest transaction you’ll ever undertake — the purchase (or sale) of a home.